Wealth Alliance Advisory Group LLC Cuts Stock Holdings in Phillips 66 $PSX

Wealth Alliance Advisory Group LLC decreased its position in shares of Phillips 66 (NYSE:PSX) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,940 shares of the oil and gas company’s stock after selling 90 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Phillips 66 were worth $1,067,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PSX. Elliott Investment Management L.P. grew its holdings in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after buying an additional 14,950,000 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at approximately $156,482,000. GAMMA Investing LLC grew its holdings in shares of Phillips 66 by 14,119.5% during the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company’s stock valued at $146,893,000 after buying an additional 1,181,240 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after buying an additional 682,459 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after buying an additional 653,248 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, Director Michael A. Heim bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sigmund L. Cornelius acquired 500 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 9,850 shares of company stock valued at $1,188,910 and sold 18,586 shares valued at $2,389,145. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PSX shares. Tudor Pickering downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 11th. Morgan Stanley increased their price objective on shares of Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Barclays increased their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $136.40.

Phillips 66 Stock Down 1.3%

PSX opened at $130.77 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.60. The company has a market capitalization of $52.85 billion, a PE ratio of 31.44, a PEG ratio of 2.06 and a beta of 1.15. The firm’s 50 day simple moving average is $126.95 and its two-hundred day simple moving average is $119.55.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period last year, the firm earned $2.31 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio is 115.38%.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.